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IndusInd Bank says 'legacy issue behind us'; profit falls 68%
July 29, 2025
|The Morning Standard
INDUSIND BANK, which had reported an internal accounting error of more than ₹2,340 crore in the past quarter, on Monday posted a whopping 68% decline in standalone net profit year-on-year to ₹684 crore as provisions zoomed.
The Hindujas-promoted bank's provisions zoomed 68% and income steeply declined. On a consolidated basis, net profit fell 72% YoY to ₹604 crore, as per the company's statement released on Monday. Despite all-round poor show, brokerages said the numbers are much better than they had pencilled in given bad set of numbers it had reported in the previous quarter. The management led by non-executive chairman Sunil Mehta and interim executive committee led by Soumitra Sen and Anil Rao, told a
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